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What is the benefit of going on to earn a masters degree after undergraduate school?

I know graduate degrees can help with getting hired but I'm wondering if the financial costs are worth it. #studentdebt #mastersdegree

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Helen C.’s Answer

Hi Caitlyn,

That largely depends on what you intend on studying in grad school. Having a masters degree may help a bit in the education field, but it also depends on your experience. If you’re in the education field, I would try to build up your experiences first and then apply. If you are looking into grad school, I recommend going part time and working part time, especially in the field you are studying in.

Another suggestion is to find a job in the institution where you attend school so that you can get tuition exemption. This option varies by institution so I would check this info before you apply. I generally wouldn’t recommend this, since that would require you to work full time and go to school part time, which leavea you almost no room for yourself unless you’re the ambitious type.

Hope this helps!
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Joshua’s Answer

In addition to the answers already provided, many industries may have employers that pay for some, if not all, of your graduate education. If you are close to getting your undergraduate degree, I recommend reaching out to alumni of your school that have jobs with companies in your industry. Introduce yourself and ask them if they are aware of any companies that pay for additional schooling. Also, they would be able to provide specific insight for your industry.

I do believe education and government positions, in general, it may be beneficial to get the master's degree. Many business-related industries do not require a master's degree. Many MBA programs will want you to have professional experience. Long story short, there are a number of factors and I think reaching out to alumni through LinkedIn is a great way to get information on the topic!

Either way, it's good that you are already thinking about the costs/benefits. I would guess you'll figure out how to be successful either way if you continue to think proactively throughout your career.

Cheers,
Josh
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Nicole’s Answer

I think many people question the financial commitment a masters can provide. I do feel that having a masters can provide a huge difference to some individuals. There are times when individuals can get a leg up because of their degree. Additionally, you are valued for having put in the time and effort into understanding a subject and becoming an expert in the field. I feel that sometimes organizations will help pay so you can work while you are going to school and that is also greatly valued.
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Kevin’s Answer

Similar answer to Helen. It really depends on what you study. For example, in accounting, to get licensed as a CPA, you need 150 credit hours. Undergraduate degrees are generally 120 credits.

Also, more and more entry level jobs say masters-preferred. This will give you a leg-up on getting a position as you will meet more of the application requirements for certain positions.
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